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Germany: Defense AI Firm Helsing Secures €209m in Series B Funding

Helsing, a defense AI firm, has successfully raised €209 million in its Series B funding round. The funding round was anchored by General Catalyst, a global investor, and featured strategic investment from renowned Swedish group Saab. This signals a strong endorsement of Helsing’s AI-centric approach to fortifying democracies.

Helsing, which was established in 2021, focuses on designing AI-driven solutions for the defense sector. Its software-driven system, combined with strong partnerships with industry leaders, has enabled it to make significant inroads in the European market.

One notable achievement for Helsing is its collaboration with Saab on the Eurofighter update. In June 2023, the German government entrusted Helsing and Saab to incorporate AI-driven electronic warfare capabilities into the upcoming Eurofighter update. Additionally, Helsing, along with its consortium allies, won a prestigious contract in August 2023 to anchor the AI framework for the Future Combat Air System (FCAS) program.

Helsing has also been actively present in Ukraine since 2022, dedicating its resources and technology to front-end missions and maintaining a continuous deployment of personnel.

The co-founder of Helsing, Torsten Reil, expressed the significance of the funding round, stating that it represents a strong belief in European capabilities and the commitment to safeguarding democratic principles. Gundbert Scherf, Helsing’s other co-founder, reiterated this sentiment by highlighting the endorsement from both a global investor like General Catalyst and a respected defense ally like Saab.

Ethics and transparency are integral to Helsing’s mission. The company firmly believes in the importance of human intervention and advocates for responsible use of AI. Its diverse recruitment strategy reflects this vision, fostering a culture of constructive critique and innovative thought.

Paul Kwan, the Managing Partner of General Catalyst, praised Helsing’s approach to collaboration, responsible innovation, and team ethos in the defense sector. He believes that Helsing provides a fitting solution for the pressing need to integrate AI responsibly in defense operations, making it Europe’s premier defense entity.

Micael Johansson, the President and CEO of Saab, also expressed enthusiasm for Helsing’s role in enhancing Saab’s global product suite.

This Series B funding round comes after Helsing’s successful €102.5 million Series A round, led by Prima Materia, an initiative by Daniel Ek, the CEO of Spotify. With this capital infusion, Helsing plans to expand its operations in Germany, France, and the UK while strengthening its core technological ventures.

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